Posts tagged ‘LEAP’
Stocks on the run pre market
Macy’s volatility low, shares up in pre-open on July sales and EPS outlook
Macy’s is recently trading at $15.35 in pre-open trading, above its close of $14.22. M expects Q2 earnings of 15c to 17c. M is scheduled to report Q2 EPS on August 12. M August option implied volatility is at 69; September is at 63; below its 26-week average of 81, according to Track Data, suggesting decreasing price movemen
Chinese drywall may adversely be affecting thousands of U.S. homes, WSJ says
Thousands of homes built in the U.S. between 2006 and 2007 may be negatively impacted from the use of drywall made in China, reports the Wall Street Journal. The drywall is being investigated by the U.S. Consumer Product Safety Commission, the Environmental Protection Agency, the Centers for Disease Control and Prevention, state health departments, and others. A number of reports are expected to be released this month and next. Recalls or others actions are expected. We will have a list of stocks to short later today.
Reference www.wsj.com
UQI International Inc. (NASDAQ: FUQI) The Chinese jeweler said that Q2-2009 revenues rose by 50.6% to $100.8 Million as gross margin rose 660 basis points to 17.2%. Net income rose 86.8% to $9.9 million, or $0.45 EPS. To add a bit of juice, it raised its full year revenue and net income guidance. At 8:41 AM EST we show a gain of 13% to $27.61 on some 44,000 shares. As this was the #1 pick from IBD and as this is a 52-week high above the old $25.60 hit this week,
XTO Energy upgraded to Add from Neutral at CapitalOne southcoast; tgt $51 (41.96)
Gerdau GGB posts 2Q net loss of
GGB reports in Q2 net loss as a decline in the value of the company’s assets and tax payments added to the pain of the global economic slowdown. Gerdau reported a second-quarter net loss of 329 million Brazilian reals $181 m down from a net profit of BRL2.12 billion in the same quarter a year ago. Without the non-recurring charges, Gerdau said the company would have posted a second quarter net profit of BRL467 million. Gerdau, the largest long steel maker in the western hemisphere, reported net revenue of BRL6.4 billion in the second quarter, down 42% from BRL11.1 billion a year ago.
ZUMZ gets up grade to Average from Below Average and raises their tgt to $9 from $7 following the co’s July comps of -16.8%. While the firm doesn’t see ZUMZ as out of the woods yet, in regards to their exposure to Western states and their higher price branded product, but things do look less bad as the co heads into back to- school in earnest and even the Western states are showing improvement.
Stocks on the Move Volume spike premarket
Pharmacyclics (PCYC) released preliminary results of its rights offering to purchase up to 22.5M shares of the Company’s common stock at a subscription price of $1.28 per share.
Affymax (AFFY) releaseds Q2 EPS ($1.17) vs. consensus of ($1.27)
Reports Q2 revenue $26.92M vs. consensus of $25.32M.
Whole Foods(WFMI) at 52week high which is about 50% of the 2007 highs. The companyt released earnings which were better than expected. We had over 1 million shares trade hands after the report after the close yesterday.
Novavax,Inc. (Nasdaq:NVAX) pre market spike on volume. This biotech company makes a virus particle vaccine that works on H1N1 influenza. Novavax has produced essential reagents for measuring vaccine potency and also has plans to produce additional batches of the pandemic H1N1 VLP vaccine to support human clinical studies. Shares are up a sharp 23% at $5.76 in trading as of 8:15 AM EST on 657,000 shares.
American Capital Ltd. ACAS is looking like a short this morning The businesses posted a $547 million second-quarter loss and is outside of its covenants. The loss came to -$2.52 EPS and net operating income fell 86% to $20 million or $0.09 EPS
Big 5 (BGFV) Sporting Goods upgraded to Neutral from Underperform at Wedbush
Wedbush upgraded Big 5 following the company’s better than expected Q2 results and raised its target on shares to $14 from $9.
Nasdaq Composite
Pivot points for the $COMP. Pivot High: 2024.375, Pivot Low: 2002.525. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.
INO CLOSES 30 Million Funding Stocks flying
INO closes $30 mln registered direct offering
July 31 (Reuters) – Inovio Biomedical Corp: * Closes $30 million registered direct offering
Stocks in Play
Inovio Biomed (Amex:INO) announced this morning pre market of a $30m registered direct offering (INO) 3.18 : Co announces that it has institutional investors to purchase $30 mln of securities in a registered direct offering. INO expects to receive net proceeds of approximately $28.5 mln.
Shares were on fire yesterday up 300%. What about today? Pre market is trading at 2.80
interm short play posible
Integral Systems Nasdaq ISYS is forcasting Q3 results below expectations
Q#3 revenue of $39M a loss of .09 a share.
Consensus is for revenue of $41.32M and EPS of 8c. Management anticipates reporting revenue for the fiscal year of approximately $160M, or 5% below the previously reported mid-year estimate. Earnings per share for the entire 2009 fiscal year is now projected to be approximately 15c. Consensus is for revenue of $168.69M and EPS of 43.
Hexcel (HXL)pressure from USEC news, says Credit Suisse
Credit Suisse said Hexcel might see selling today around the conference call at noon est. MAnagement will addresses the USEC (USU) news. Last night, the Department of Energy’s denied USEC’s loan application for the American Centrifuge Project. Hexcel has a $100M contract to supply carbon fiber for the tubes needed in the centrifuge.
HGSI about to issue more shares
Human Genome Sciences, Inc. (NASDAQ: HGSI) has launched public offering of up to 18 million shares of its common stock. Goldman, Sachs & Co. (NYSE: GS) and Citigroup Global Markets (NYSE: C) are acting as joint bookrunning managers.
HGSI will give underwriters a 30-day option to buy up to 2.7 million shares a part of the investment banking otions. (not a bad deal)
Use of proceeds from the offering are for clinical trial, research and development, general and administrative and manufacturing expenses and potential sales and marketing activities.
HGSI hinted about a potential acquisition of, or investment in, companies, products or technologies that complement its business.
Genome Sciences is a commercially focused biopharmaceutical company. In the first half of 2009, HGS achieved its first product revenues of $162.7 million when it delivered raxibacumab to the U.S. Strategic National Stockpile for the treatment of inhalation anthrax.
The company has two other products in late-stage clinical development, including Zalbin for chronic hepatitis C and Benlysta for systemic lupus erythematosus.
World markets hit a 9 month peak as the dollar his a yearly low
LONDON (Reuters) – World stocks extended gains to fresh 9-month peaks on Tuesday while the dollar fell to a 2009 low after upbeat U.S. data and optimism over corporate earnings prompted investors to add risky assets.
U.S. stocks rose on Monday after data showed home sales surged in June, a sign that the domestic housing market — which led the world’s biggest economy into recession — may have hit bottom and is starting to rebound. More housing data is due later.
“After yesterday’s much better new home sales data and continued theme of better-than-expected news, we may well see traders taking the opinion that this rally has a few more legs to run yet,” Jimmy Yates, head of equities at CMC markets, noted. MSCI world equity index rose 0.7 percent to its highest since October. The index is up 7.6 percent this month and has risen nearly 16 percent since January.
“The rally witnessed over the last two weeks could, in fact, imply that the market is getting ahead of itself and discounting a profit rebound, but we believe the underlying cyclical rally ultimately will be durable,” Bob Doll, global chief investment officer at BlackRock, said in a note to clients.
“The risks are that inflation expectations put Treasury yields and borrowing rates higher before the recovery gains traction, and that improving consumer spending contracts again next year after the impact of fiscal stimulus.” The FTSEurofirst 300 index rose 0.7 percent, hitting its highest since November. Deutsche Bank fell more than 5 percent after reporting a significant rise in loan provisions despite better-than-expected quarterly net profit. According to Thomson Reuters data, out of 202 firms on the S&P 500 index, 156 — or 77 percent — beat earnings expectations.
Emerging stocks rose 1.1 percent. U.S. crude oil rose 0.6 percent to $68.79 a barrel, supported by general flows into risky assets. The September bund futures fell 17 ticks. The dollar fell to its weakest level since December against a basket of major currencies while it hit eight-week lows of $1.4303 per euro. The Australian dollar hit a 2009 high against the dollar and government bonds fell after the country’s central bank governor Glenn Stevens said risks to the economy were now more balanced and warned that low interest rates could merely inflate a new housing bubble.
source Reuters
http://www.reuters.com/article/wtMostRead/idUSTRE56R0CG20090728?feedType=RSS&feedName=wtMostRead
PIPE REPORT July 21, 2009
PIPE Volume Rose in 2nd Quarter, Compared With First
Posted July 21, 2009 12:00PM PST
The second quarter saw a promising increase in PIPE activity, as U.S.-listed companies raised $12.9 billion, or 63% more capital than they did in the first quarter, according to PrivateRaise, the data service of DealFlow Media. The number of deals rose 32% over the first quarter.
Major players in the PIPE market in the first half of the year included Iroquois Capital and Downsview Capital, the only fund managers to invest in more than 10 offerings; and Rodman & Renshaw, which placed 27 PIPEs, three times the number of placements by Lazard, the second most active placement agent. Investors who brought the most cash to the PIPE market were Berkshire Hathaway, which invested $3 billion in a private placement; Aabar Investments PJSC, with $2.6 billion; and Kuwait Investment Authority, with $1 billion. The companies that raised the most capital included four Dow Chemical, with $4 billion; BlackRock, Inc., with $2.8 billion; Daimler AG, with $2.5 billion; and ArcelorMittal, with $1.7 billion.
Data from the first half shows that PIPE financing activity has not returned to levels prevailing before the credit crunch of late 2008 and fickle securities markets depressed most forms of financing. The first half of 2009 saw a 44% drop in deal volume, compared with the year earlier period, and a 68% decline in total investment.
The third and fourth quarters could bring a further rebound towards last year’s numbers. In addition to increased deal flow, second quarter numbers reflect a growing trend in registered shelf offerings or “registered directs.” Companies raised $967.7 million in 57 registered direct offerings last quarter, compared to $417.9 million in 25 first quarter deals. While registered directs accounted for only about 7% of capital raised in the second quarter, the number of shelf statements filed in anticipation of future raises more than doubled from the same quarter last year. The 250 shelf statements filed in the second quarter of this year could be used to raise as much as $39 billion. As much as $72 billion could be raised from shelf statements filed during the entire first half of the year.
Even at the current level of activity they represent a fraction of the total PIPE market, and are not a viable option for the majority of emerging growth companies that remain ineligible for S-3 registration and must rely on the traditional PIPE market for equity capital.
Mid Day stocks
build your financial model here www.blattistics.com
Stocks rebounding.
Stocks are still lower but they’re off their worst levels of the session. Profit taking all day is the main reason.
Each sell off has brought out buyers. The averages have been establishing higher lows with each sell off and subsequent buying, setting up what could be a late day move towards positive territory. The Dow is down 70 to 9,250, the NASDAQ is down 25.50 to 1,985.85, and the S&P is down 6.75 to 998.90.
MOVERS
On2 Technologies (ONT) up 50% after announcing that it will be acquired by Google (GOOG)
Onyxx Pharmaceuticals (ONXX) is down over 14% after announcing concurent offerings of 4M shares of common stock and $200M in convertible senior notes.
INOVIO Biomedical (AMEX:INO) (INO) is still up in the $2.56 up over 25% on 15milion shares.
If you think inflation is coming back go long TBT. I plan to
Unusual options trading activity in Pfizer Inc. (NYSE: PFE).
As of 11:00 AM EST we have seen some 47,000 PFE AUG $13 CALLS traded today alone versus a prior open interest of a mere 120 contracts. Out in September expiration, we have seen 10,500 of the SEPT $11 Calls trade versus a prior open interest of 10 contracts.
August 5, 2009 at 9:51 am Leave a comment